Documents NRIs Need While Buying Property in India

India is a popular destination for wealthy Indians from throughout the world. Recently, a weakening currency, which is difficult for the Indian government, has given non-resident Indians (NRIs) a fantastic opportunity to invest more in this market. NRIs must, however, be aware of the documentation they need to have to complete the transaction while making investments.

Numerous NRIs purchase real estate in India for various reasons, including a long-term investment, a place to stay when they travel back home, and a means to maintain an emotional connection to India or their family. Once you start the procedure, you'll see a few formalities and paperwork you need to finish before you can buy real estate in India. Here is a quick list of everything you will need at each step.

1) Indian Passport Of Person Of India Origin (PIO) Card Or Overseas Citizen Of India (OCI) Card

To invest in real estate in India, NRIs require an Indian passport. Suppose you are an individual who has possessed an Indian passport but are currently a non-citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan. In that case, you will need a PIO (person of Indian origin) card. If your father or grandfather was an Indian citizen and you are a foreign citizen, you will need a PIO card. In other words, you require a PIO card if you have a foreign passport. An individual who is not a citizen of India but was qualified to become one before or after the partition of India (or the child of such a person) would require an Indian citizen living abroad (OCI). You can submit an application for these cards at the Indian embassy or consulate in the nation where you now reside. As evidence that you are an OCI or PIO, you might need to present your parents' birth certificates.

2. Permanent Account Number Card

NRIs require a PAN card because they must file income tax returns if they have rented out the property. Additionally, if the property is later sold, all capital gains generated by the sale would be taxed. While being taxed, capital gains would be counted as part of the overall income.

3. Power of Attorney

Offer an extraordinary power of attorney to someone in the city where you are purchasing a home. You will find it much simpler to get registration, execution of the sale, possession, and other processes done if you are an NRI who does not frequently visit India.

Godrej Tiara

Look no further, Real Estate investment is the safest and most profitable long-term investment option. However, a smart buyer is heedful of the project's location, size, price, and amenities that come along with the property.Godrej Tiara has stood out as a winner for several prospective homebuyers who are looking to make the right investment, just like you.

Godrej Air Nxt

Godrej Properties presents another magnificence, Godrej Air Nxt apartment complex, located again in the heart of the strategically planned East Bangalore location, Whitefield. These are spacious abodes with unrestricted views, loaded with superb amenities and facilities like organic farming, jogging tracks, etc., ensuring every dweller can enjoy an awe-inspiring living experience. High retail streets, top IT and global companies, renowned healthcare, education, and shopping malls are there in the neighbourhood. Innovative Oxygen Enriched Homes are available in 2.5 and 3 bedroom sets and penthouses that come with air purifiers in every unit. The prime focus of these residences is every resident's health and well-being.

Godrej Park Retreat

Godrej Properties presents another opulence, Godrej Park Retreat hosted in another sought-after East Bangalore location, Sarjapur Road. The project offers more than you ever desired from your dwelling. Spoiled with options in sizes, layouts and configurations in 1, 2, and 3 bedroom categories, each resident can enjoy living in the spacious and envious abodes. There is a sprawling 28,000 sq. ft. Clubhouse with 50+ lifestyle amenities will pleasantly take care of your leisure, wellness, and convenience needs. There are great fun-filled activities loaded amid nature stretched across 1.64 hectares of greenery. Godrej Park Retreat will take you and your loved ones to another level and boost you holistically!

Godrej Woodland

Godrej Woodland is a residential project by Godrej Properties located on Sarjapur Road in Bangalore East. Through this project the Godrej group provides Land with a perfect blend of contemporary architecture and features to ensure a comfortable living environment. The project spans 100 acres of Land. It has 58% open space. A total of 1241 units of lodging have been provided. For a better living experience, 33 amenities are available. The smallest plot size is 900.0 square feet, while the largest plot size is 1800.0 square feet. The project began in February of 2021. Godrej WoodLand has 700 apartments. Sarjapur Road, Chikka Tirupathi, Carmelaram is the location of Godrej WoodLand.

It's an address in East Bangalore that fills you with awe from the moment you walk in. This address offers you close to the conveniences of city life while also bringing you closer to nature. It is known for its exceptional green cover, superb connection, accessibility to public transportation, closeness to chosen IT parks, and the best of metropolitan luxury. Koramangala, Whitefield, the outer ring road, Marathalli, and many other places are all accessible from this location. This location is also a hub for numerous IT businesses, making it a well-known residential area that offers a premium living experience.

Godrej Ananda

Godrej Properties' residential project, Godrej Ananda, is located in Bagalur, Bangalore North. A total of 20.33 acres of land are included in the development. A 10 per cent open area is included in the design. Housing has been made available in an amount of 806 units. Apartments and Studio Apartments with a perfect blend of contemporary architecture and the features available as part of the project, ensuring a cozy living environment. 1RK, 1BHK, 2BHK, and 3BHK are the different apartment configurations. The project has excellent connectivity and is positioned among existing and emerging neighbourhoods and facilities at the crossroads of BK Halli Road, adjacent to Bagalur Aerospace Park, Gummanahalli, and Bagalur. A fully equipped clubhouse, landscaped gardens, gymnasium, swimming pool, recreation rooms, outdoor sports courts, children's play area, AV Room, party hall, and meticulously planned with utmost importance to state-of-the-art 24/7 security are just a few of the 25+ amenities available at the property. The Bagalur region is essentially a small township located a few kilometres outside of Bangalore. The road connects important Bangalore towns such as Malur, Hoskote, Whitefield, Bommasandra, Dasarahalli, and others. There are numerous industries in the area. There is a sound bus system in this area, and the railway station and airport are also close by. Property rates on Bagalur Road are significantly more affordable than in other parts of Bangalore, which is why so many people like to live here.